Avantax Planning Partners Inc. Acquires 1,374 Shares of Deere & Company $DE

Avantax Planning Partners Inc. boosted its holdings in Deere & Company (NYSE:DE) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,296 shares of the industrial products company’s stock after purchasing an additional 1,374 shares during the period. Avantax Planning Partners Inc.’s holdings in Deere & Company were worth $14,249,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Anchyra Partners LLC boosted its holdings in Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after acquiring an additional 17 shares during the period. William B. Walkup & Associates Inc. increased its stake in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 17 shares during the period. Cerro Pacific Wealth Advisors LLC increased its stake in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after purchasing an additional 19 shares during the period. Hazlett Burt & Watson Inc. lifted its position in Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in Deere & Company by 2.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 19 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $586.06 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a market cap of $158.20 billion, a P/E ratio of 33.20, a P/E/G ratio of 2.17 and a beta of 0.89. The business’s 50 day moving average price is $581.64 and its 200-day moving average price is $568.53.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the company earned $6.64 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Analyst Ratings Changes

Several research analysts have recently issued reports on DE shares. Barclays raised their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Oppenheimer reiterated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Robert W. Baird dropped their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Raymond James Financial cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Finally, Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus target price of $642.23.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.